Axos is overseen by Gregory Garrabrants, a lawyer, former Goldman Sachs banker and McKinsey & Co. consultant. Before joining Axos in October 2007, Garrabrants was an executive at Indymac, a huge California savings & loan that collapsed in July 2008 under a mountain of toxic mortgages, according to bank regulators. Indymac was one of the nation’s biggest bank failures, costing the FDIC fund more than $10 billion, a government investigator estimated. In 2018, Garrabrants earned $27 million, just 10 percent less than the $30 million received by Jamie Dimon, the chief executive of JPMorgan Chase. For fiscal year 2021, Axos held $3.2 billion in commercial real estate loans, or 27.5 percent of its total loans. Most were on properties in California. Axos also held $4.4 billion in single-family mortgages in 2021 or 38 percent of its loans held for investment.